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2002 (4) TMI 217 - AT - Income Tax
Extract:
....... that on the basis the contents of computer floppy, it cannot be said that the assessee borrowed the money. For the same reasons, we hold that it presumed that the assessee made tic repayment in cash. In view of our above finding, we hereby cancel the penalty levied under section 271E 10. In the result, both the appeals by the assessee are allowed.